Frequently Asked Question
What is MyStartr? What kind of service MyStartr provides?
MyStartr is a reward-based crowdfunding platform. We aim to actualise creative projects; form having a clear goal, and eventually be completed and something will be produced out of it. We allow users to crowdfund their projects with using our platform. We do not allow projects to fundraise for personal gain or better known as fund my life and also offer otther financial incentives.
What is reward-based crowdfunding?
Project owners are required to provide products or services as rewards to supporters instead of monetary rewards. For example, a book or a movie ticket.
Creating a Project
Is there any restriction in creating a project on MyStartr?
You must be a Malaysian with 18 years old or above. You need to have a Malaysia bank account for the payment making purpose.
What should I do while creating a project on MyStartr?
You need to prepare a proposal regarding the information of your project along with the rewards you provided for your supporters. The proposal should include the detail of your project, the objectives of your project and the budget breakdown. Images and videos are encouraged to be included in the proposal to enrich the content of your proposal.
How long the crowdfunding period is set?
We allow project owners to have the maximum crowdfunding period of 60 days.
How much amount should I set as target?
The target amount of project is depending on the needs of the project itself. Set a reasonable and achievable target amount so it will be the motivation in running the project. We allow overfunding as the amount that exceeds the target amount will still be given to the project owners.
Do I need to pay any fees for creating a project on MyStartr?
A 10% service charge and 6% service tax will be charged based on your funded amount. For example, your project has funded RM1000. 10% of service fee will be charged on the total funded amount which is RM100 and 6% of service tax will be charged on the total funded amount which is RM60. The charges will be deducted from the total funded amount and remit the remaining amount to you.
What if I need assistance in writing content for my proposal?
Our team can assist you in providing content and ideas in writing your proposal. There might be charges depends on the service that we provided.
What is the difference between “Fixed Funding” and “Flexible Funding”?
“Fixed funding” means project owner will not carry on the project if the target amount is not able to achieve. The funded amount will be returned to the supporters. “Flexible funding” means project owner will still carry on the project even if the target amount is not able to achieve. The supporters will still receive the rewards.
Submitting a Project
What should I do after I submit my proposal?
Our team will contact you within 3 working days once you submit your proposal. After reviewing your project, our team will give advice and suggestion on the amendment of the proposal in order to enhance your proposal.
When will my project be approved and launched?
After reviewing your proposal, the project will be launched once the content of proposal is appropriate and have enough information.
What should I do during my crowdfunding period?
You need to promote your project via your communication tool such as social media and human contact. A proper marketing plan makes a big difference in the result of crowdfunding. You may keep in contact with our team so we are able to assist you whenever you need assistance.
What should I do after my crowdfunding period has ended?
A fund statement and supporter list will be sent to you within a week. Check the crowdfunded amount and sign it if there is no mistake on the fund statement. Send the signed fund statement back to us and we will proceed with the transaction within 10 working days.
When can I get my fund?
You will only receive the fund after your crowdfunding period has ended. The transaction will be processed within 10 working days after you have returned the signed fund statement to us.
How can I get my supporter’s detail and information?
The list of supporters will be sent to you once your crowdfunding period has ended. The name, contact number and delivery information will be included in the list. You can also view it by doing the following steps:
Step 1: Go to “My Created Project”
Step 2: Click on “Download Supporter List”
If I am not a Malaysian, can I support project in MyStartr?
You may support the project using your credit card, online banking and Alipay.
When can I get my reward after supporting a project?
Each project will be set an estimated delivery date for their rewards; you may refer to it accordingly. However, the date is estimation and it may change depends on the project owner.
What if I didn’t get my reward after the crowdfunding project has ended?
You are encouraged to contact the project owner personally to ask about your inquiry. If you failed to contact him/her, you may contact us and we will assist you to contact with the project owner. However, please be informed that MyStartr does not take responsibilities and make guarantee on reward delivery.
What kinds of payment method that I can use to support the projects?
There are several payment methods that you can use as listed below:
- Online banking
- Credit card
What if I fail to support the project?
If you have failed to support the project after trying several times, you may contact us via phone call or email. We will provide you with the most appropriate solution in order to solve your problems. You may directly bank in to us as well. Before you bank in, you need to give us a call or drop us an email to inform us that you will be banking in to MyStartr and the project that you are supporting. Then, our bank account detail will be provided to you. You are required to send the image of bank in slip to us via whatsapp or email after you have done bank in. We will assist you to support the project after we received payment.
What if the project that I supported did not succeed in achieving the target amount?
There are two solutions in this situation. If the project is under “Flexible funding”, your supported money will still goes to him/ her and you will still get your reward. Otherwise, if the project you supported is under “Fixed funding”, the money will be refunded to the E-wallet (Credit) in our platform. You may then use the credit to support another project or you may choose to withdraw the money afterward.
What is E-wallet or credit in MyStartr? How does it work?
In MyStartr, there is a credit system, which is also known as E-wallet. For instance, 1 credit = RM1. For those who have supported a project that fail to be carried out, your supported money will be refund to the E-wallet. You may support another project using this credit or you may withdraw it out. E-wallet also works as your wallet in MyStartr, you may bank in to us and we will then store your money into E-wallet. After that, every time you support a project, you will not need to do online payment or credit card payment, you can just use your credit in E-wallet to support the project. Save your time!
How do I check my credit amount in MyStartr?
Go to the right corner of the webpage, click on your profile. Next, click on “Credits” under your profile, you will see your credit balance in MyStartr.
How to withdraw my credit amount from MyStartr?
Go to your credit balance, click on “Request a Refund” and fill in your bank account information. The withdrawal progress will process within 10 working days.
Do I get any receipt for supporting a crowdfunding project?
Instead of getting a proper receipt, MyStartr system will send you an official email to prove that you have successfully supported the crowdfunding project.